Question

In the 1970s, some economists argued that federal environmental regulations were necessary so that interstate competition would not lead to this situation. For 10 points each:
[10h] Louis Brandeis (“BRAN-dice”) popularized what phrase for a situation in which competition drives jurisdictions to relax regulations or standards?
ANSWER: race to the bottom
[10e] The race to the bottom has been modeled as a form of this game. In this game’s only strong Nash equilibrium, both criminals betray their partner.
ANSWER: prisoner’s dilemma [or PD]
[10m] According to Oates and Schwab’s model, no race to the bottom exists because the national equilibrium value for this quantity is fixed. This quantity is related to growth in the central inequality of Piketty’s (“pee-keh-TEE’s”) Capital in the Twenty-First Century.
ANSWER: rate of return on capital [or ROC; prompt on r or “r is greater than g”; prompt on rate of return by asking “return on what?”]

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Data

TeamOpponentPart 1Part 2Part 3Total
Chicago ADuke A1010020
Claremont AWUSTL B0101020
Columbia BJohns Hopkins A1010020
Cornell AMaryland A010010
Cornell BMIT A1010020
Florida AChicago B010010
Florida BVanderbilt A1010020
Georgia Tech ABrown A1010020
Georgia Tech BIllinois A010010
Harvard AChicago C10101030
Imperial AHouston A1010020
Minnesota BMichigan A010010
NYU AUC Berkeley B10101030
North Carolina AIndiana A1010020
Northwestern AColumbia A10101030
Penn AIowa State A1010020
Penn State ARutgers A010010
Rutgers BPurdue A1010020
Stanford AOhio State A10101030
Texas AToronto A010010
UC Berkeley AMinnesota A010010
Virginia ASouth Carolina A1010020
Yale AWUSTL A1010020
Yale BMcGill A010010